7 min read
In recent years the use of cryptocurrencies has been increasing and more and more users are interested in acquiring them, however, due to misinformation many of them are unable to buy them, either due to lack of knowledge or the idea that it is a complicated process. However, buying cryptocurrencies, including Bitcoin, is a very simple process. In this article we will tell you how to buy Bitcoin and other cryptocurrencies in Valencia.
How to buy cryptocurrencies in Valencia?
The purchase of cryptocurrencies does not have to be affected by the user’s location, since the user can buy cryptocurrencies online. However, below we will look at both online and physical purchasing processes at Bitnovo.
Buy cryptocurrencies with Bitnovo online
In case you want to buy cryptocurrencies with Bitnovo online the process is as follows:
- Go to Bitnovo’s official website and select the option to buy cryptocurrencies.
- Once we are on the purchase page, we will only have to select the amount of euros we want to convert into cryptocurrencies, the cryptocurrency we want to buy and click on the “buy” button.
- Then we must enter the requested data: our wallet address where we want to send our cryptocurrencies, our phone number, an e-mail and of course, the payment method (card, bank transfer or other cryptocurrencies).
- The last step would be to perform the identity verification, also called KYC, required by the government to combat money laundering in banking, financial and stock market activities. Once this quick process is approved, the cryptocurrencies will arrive in our wallet in a matter of minutes.
If you still don’t know what a wallet is, don’t worry, I’ll explain it later.
This would be the online purchase process that can be done both to buy cryptocurrencies in Valencia and from anywhere, since for this we only need a device with internet access.
Advantages: You don’t need to move and in addition to buying by card, you can also buy via bank transfer.
Buying cryptocurrencies physically in Valencia
If you are in Valencia and want to buy cryptocurrencies physically, either paying in cash or by card, Bitnovo has ensured that you can do it from almost any location. All you need is to have a Fnac, Worten or any of the more than 40,000 Bitnovo partner stores nearby.
There you can buy our cryptocurrency coupons. These are a very easy way to exchange your euros for cryptocurrencies, since you only have to buy the coupon and then redeem it on our website or app. This process is very similar to buying a Netflix or Spotify gift card.
For your better understanding, I will explain the process step by step:
- Go to the store closest to your location (look for the map on our website or app).
- Order a Bitnovo voucher for the amount in euros of your choice (25, 50, 100, 250 or 500 euros).
- Pay in cash or by credit card and receive the coupon with the code to be redeemed.
- Login to our website or app, redeem the coupon for the cryptocurrency of your choice and send the funds to your wallet.
A similar option is our cryptocurrency ATMs, where you can exchange your cash for coupons. Once the cashier issues the voucher, you can redeem it for cryptocurrencies on our website or app.
Advantages: You don’t need to go through registration processes and you can buy in cash.
What should you know before buying cryptocurrencies?
Before you go to buy cryptocurrencies at Bitnovo it is important for you to know one of our main advantages: we are not a cryptocurrency custodian. That means that we will never store your funds, so you will be the sole and absolute owner of them. Therefore, it will be necessary for you to have your own wallet where we will send the cryptocurrencies you buy at Bitnovo.
What is a wallet?
A wallet is nothing more than a digital wallet where we are going to store or save our cryptocurrencies. Actually, it is a software that allows us to access the blockchains of each cryptocurrency respectively. However, we must know this concept well before taking the big step.
A wallet allows us to check our account balance at any time, receive currencies, send currencies, among other things. But most importantly, it allows us to be the sole owners of our cryptocurrencies.
Before creating a wallet we must take into account that we can choose between different devices and formats to store our cryptocurrencies. Most users tend to choose web wallets and mobile apps.
- Web wallet: In this case your funds will be in the custody of an exchange and will not really be yours until you send them to your own wallet.
- Mobile application: Here the funds will be yours and it is one of the most practical options. You can download the app to your mobile or tablet to carry the wallet with you at all times and manage your cryptocurrencies at all times.
- Desktop wallet: Similar to the mobile application but through computer software.
- Paper or USB: There is also the possibility of printing the code of your wallet in paper format or saving it in a USB memory. This way our cryptocurrencies will always be safe.
- Hardware Wallet:This is the option that best combines security and simplicity. They are devices specifically designed to store cryptocurrencies securely and their cost is higher than the previous options.
Share your wallet address
Once we have created our wallet-account, we will be able to access our address also known as public key. This will be your wallet “code” that will be used to receive transfers and cryptocurrency remittances. Something like the “IBAN” of our bank account.
The wallet address can be given in two different ways:
- Alphanumeric code: It would be a fragment composed of letters and numbers.
- QR Code: It would be the dot matrix or barcode where the information with the address of our wallet is represented. This code is generated through the mobile application and will be the address that you will have to share with Bitnovo so that we can send you the cryptocurrencies you buy.